Food prices rose for the sixth month in a row, according to the most recent CPI report. At 0.4%, February’s overall price index increase was twice that of January.
Food at home
The price index for food at home went up by 0.5% in February, notably greater than January’s 0.1% increase.
Prices rose for five out of the six grocery store food groups, while the index for fruits and vegetables was unchanged in February. The index for dairy and related products experienced its biggest jump since March 2014 at +1.1%. Other group price increases were as follows:
- Other food at home: +0.8% (+0.2% in January)
- Cereals and bakery products: +0.5% (-0.4% in January)
- Nonalcoholic beverages: +0.5% (+0.4% in January)
- Meats, poultry, fish, and eggs: +0.2% (unchanged in January)
The 12-month index change for food at home is now 0.8%. Five of the major grocery store food group prices went up during that period, with dairy and related products experiencing the most growth (3.6%) and its greatest 12-month gain since the period ending in January 2015. Meats, poultry, fish, and eggs had the second-largest growth over the past year at 1.9%. The index for fruits and vegetables, however, fell by 1.6%.
Food away from home
Prices for food away from home rose by 0.2% in February, slightly less than the 0.4% increase in January. Prices went up for both limited and full service meals:
- Limited service meals: +0.3%
- Full service meals: +0.2%
The overall index for food away experienced a 3.0% increase over the past year. Full service meals grew by 3.4% and limited service meals went up by 2.7% during that period.
